3156 Fairmount Street

Los Angeles, CA 90063

$450,000
Last Sold Price
5
Beds
2
Baths
1,775 Sq. Ft.
$254 / Sq. Ft.
1,775
Sq. Ft.
$254
per Sq. Ft.

Description

Price reduced $51,000 for a quick sale! We are pleased to present for sale 2 units in a Desirable Boyle Heights Location. This is the first time the property has been offered for sale in over 25 Years. The units are comprised of spacious single story 2 and 3 bedroom units. Rents are currently well below market level and have about +/- 120% of Rental Upside potential. The property falls within a block from the famous "El Tepeyac Restaurant Cafe" on North Evergreen Avenue, Situated East of East Cesar...Price reduced $51,000 for a quick sale! We are pleased to present for sale 2 units in a Desirable Boyle Heights Location. This is the first time the property has been offered for sale in over 25 Years. The units are comprised of spacious single story 2 and 3 bedroom units. Rents are currently well below market level and have about +/- 120% of Rental Upside potential. The property falls within a block from the famous "El Tepeyac Restaurant Cafe" on North Evergreen Avenue, Situated East of East Cesar Chavez Avenue and Adjacent to Downtown Los Angeles. Tenants enjoy the Close Vicinity to Shops & Restaurants on East Cesar Chavez Avenue and a short drive from the 5, 10 and 101 Freeways commuting to and from work. Sellers intend to complete a 1031 Exchange at no cost or delay to the Buyer. Rents stated are actual and below market rate. Property has Deferred Maintenance. OFFERS BEING SUBMITTED should be either cash or via hard money loan.
  1. Listed by Shant Sherbetdjian • DRE #01713570 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 3156 Fairmount Street

Zoning
LAR2
Parcel Number
5178005013
Total Units
2.0
Living Area
1775
Source Living Area
Assessor
Area
Boyle Heights (BOYH)
Vacancy Rate
None
Lot Size Area
5200

Location

Listing Courtesy of Remax Commercial and Investment Realty, Shant Sherbetdjian, DRE #01713570

Sold By Remax Commercial and Investment Realty, Shant Sherbetdjian, DRE #01713570

Add your commute
LISTING UPDATED: 06/18/2021 11:41 AM

Property Details for 3156 Fairmount Street

StatusSold
MLS #21-690086
Days on Market127
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1950
Lot Size0.12 AC / 5,200 SF
CountyLos Angeles County

Location

Listing Courtesy of Remax Commercial and Investment Realty, Shant Sherbetdjian, DRE #01713570

Sold By Remax Commercial and Investment Realty, Shant Sherbetdjian, DRE #01713570

Add your commute

Building Information for 3156 Fairmount Street

Stories1Residences-Year Built1950Building Size-Lot Size0.12 AC / 5,200 SF

Payment Calculator

$3,133 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,456

Property Taxes

$677

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3156 Fairmount Street

Community / Development
Community / Development
  • Number Of Units: 2
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 1
  • Type Of Units: Apartment
  • Property Condition: Repairs Major, Repair Cosmetic
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $20,836
  • Net Operating Income: $9,417.00
  • Gross Income: $21,480
  • Gross Rent Multiplier: $23.23
  • Vacancy Allow Dollar: $644.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 11418
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1194
  • Lot Size Square Feet: 5200
Parking Details
Parking Details
  • Parking Garage: Garage, Driveway
  • Total Parking: 3
  • Garage Spaces Total: 3
  • Parking Features: Garage, Driveway
  • Garage Structures Total: 1.0
Interior Features
Interior Features
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-08-2021
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $940.00
  • Unit Actual Rent: $940.00
  • Unit Projected Rent: $2,100.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $850.00
  • Unit Actual Rent: $850.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $33,138.00
  • Assessed Improvement Percent: 66.83
  • Assessed Land Value: $16,447.00
  • Assessed Land Percent: 33.17
  • Assessed Total Value: $49,585.00

Property History for 3156 Fairmount Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3156 Fairmount Street

Taxable ValueLand$400,000Additions$244,500Total$644,500
Tax Record2023$8,125 ($677 / month)
Home Facts
Total Finished SqFt1,775 SqFtAbove Grade Finished SqFt1,775 SqFtLot Size5,200 SqFtStyleTriplexYear Built1950ZoningLAR2CountyLOS ANGELESAPN5178-005-013

Schools near 3156 Fairmount Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Charter - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Malabar Street Elementary School
PublicK to 6

Alliance College-Ready Middle Academy 8
Charter6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Remax Commercial and Investment Realty, Shant Sherbetdjian, DRE #01713570

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.